Crypto Tax Proposal Open for Revision, IRS Officials' Questions Suggest

Crypto Tax Proposal Open for Revision, IRS Officials’ Questions Suggest

Officials from the Internal Revenue Service and the U.S. Treasury were interested in how the industry might self-identify assets that have nothing to do with finance and whether stablecoins should be left out of the proposal. After an incredible 124,000 comments have come in on the IRS proposal, the window closes Monday, beginning the final months of the process that could end in the crypto industry’s first major crypto regulations in the U.S.

While crypto representatives and lawyers cautioned the U.S. Internal Revenue Service (IRS) that its crypto tax proposal is a dangerous and improper overreach, questions posed by a panel of IRS and Department of

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